Overview
- Customs data show exports reached $656.6 billion in January–February with a $213.6 billion surplus, while total imports rose nearly 20%.
- Semiconductor exports by value surged about 73% as AI-driven chip demand and higher prices lifted sales; autos rose 67% and mechanical and electrical goods gained 27%.
- U.S.-bound shipments fell 11% to $67.2 billion, offset by sharp gains to other markets, including roughly 28% growth to the European Union and 29.4% to ASEAN, plus a 16% rise to Latin America.
- A February U.S. Supreme Court ruling removed many IEEPA-based tariffs on China as President Trump imposed a temporary 10% Section 122 duty for 150 days and said he intends to lift it to 15%, with a Trump–Xi meeting set for Mar. 31–Apr. 2 in Beijing.
- Beijing set a 2026 growth target of 4.5%–5% as manufacturing contracted with a 49 PMI, and analysts note Middle East tensions could threaten energy costs and external demand.